Boot Camp Schedule

Farm Futures Ag Finance Boot Camp 2022

Unlock Your Competitive Advantage

January 19, 2022

Registration: 7 a.m. - 12:00 p.m.
Sessions: 8 a.m. - 4:30 p.m.

8:00 - 8:10 A.M.

Welcome and overview for the day**

Speaker:   Mike Wilson

8:10 - 9:00 A.M.

How to unlock your competitive advantage with better financial management** 

Speaker:  Ashley Arrington, Curt Covington, & Paul Neiffer

In good markets or bad, now is the time to set a course for rebuilding working capital, stabilizing and managing profits, and reviewing your farm's balance sheet equity. Our speakers offer an overview of the financial analysis skills you need to improve and unlock your competitive advantage in the business of farming 

9:00 - 10:00 A.M.

Financial reporting: What your lender wants to see is not what you need to manage a business**

Speaker:   Curt Covington 

There's a big difference between financial reporting to your lender (what she or he will want to see) vs. internal management reporting and what tools are needed to more effectively run the farm (such as KPIs, unitizing cost, breakeven analysis, capex analysis, and good enterprise budgeting techniques). Curt runs through the different kinds of information that you will need to engage both lender and your business partners.

10:00 - 10:15 A.M.

Coffee Break

10:15 - 11:00 A.M.

The high cost of farming: Managing your business in an inflationary era** 

Speaker:   Ashley Arrington, Curt Covington

What is one of the hottest topics in the ag finance world? Actually it is one of the hottest topics in all finance realms - INFLATION. In this session we will address how to take inflation head on. We will discuss multiple risk mitigation techniques as well as what we see coming down the road for the future. 

11:00 - 11:45 A.M.

Sharing financial information in farm transitions**

Speaker:   Paul Neiffer

The topic of financial transparency causes many folks heartburn. Do you want your heirs who become owners to know how to read financial statements and understand how your debt is managed? In this session we will discuss what amount and sophistication of information is appropriate to share. It will likely vary with audience, age, and trust. There are many resources that build skills on financial statements and financial ratios. In this session you will build an outline of a multi-year plan to build financial competency for the folks who will be running your family’s farm in the future.

11:45 - 12:00 P.M.

Q&A

12:00 - 1:00 P.M.

Lunch

1:00 - 2:00 P.M.

How lenders can help you manage your finances**

Guest Lender Panelist:  Gerald Kruger, Paul Schrader

Moderator: Paul Neiffer

A panel of lenders will discuss the most important issues they are tackling during this lending season, including changes in financial metrics, repayment capacity, working capital, and operating loan requirements.

2:00 - 2:45 P.M.

How to monitor and use costs of production to inform marketing decisions and manage risks** 

Speaker:    Matt Bennett

While many assume it’s easier to market at higher prices, the last few months have proven that’s not always the case, due to skyrocketing costs. In this session you will gain insights on how to market profitably and maximize return on investment for the farm. Put marketing plans together based on goals for profit margins, and how that process ebbs and flows through the growing season.

2:45 - 3:00 P.M.

Coffee Break

3:00 - 4:00 P.M.

How to position your business for growth**

Speaker:    Ashley Arrington

What things should you consider BEFORE you expand your business? Maybe we don't swing for the fences. Maybe the right play is hit a double and wait for the next opportunity to take us around the bases. We will discuss which play is right for your farm.

4:00 - 4:30 P.M.

Q&A